# Innovation vs. Invention with Mike Wilkinson

Published 2023-01-01 · Updated 2026-03-26 · Engineering & Construction on MarketScale
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> Mike Wilkinson, the founder and CEO of Paragon Innovations, sheds light on the distinction between innovation and invention. Inventions are groundbreaking creations that introduce entirely new concepts or technologies, while innovations involve improving existing ideas. Differentiating between the two is crucial for approaching projects with clarity and purpose. Inventions defy planning and scheduling, while innovations…

Mike Wilkinson, the founder and CEO of Paragon Innovations, sheds light on the distinction between innovation and invention. Inventions are groundbreaking creations that introduce entirely new concepts or technologies, while innovations involve improving existing ideas. Differentiating between the two is crucial for approaching projects with clarity and purpose. Inventions defy planning and scheduling, while innovations can be more accurately approximated in terms of timelines and expectations. Wilkinson’s insights provide valuable guidance for aspiring entrepreneurs navigating the dynamic landscape of innovation and invention.

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